14.On August 20X1, ABC Company bought 50,000 shares of Z Corp  at P300,000. Commission and taxes related to the acquisition were P15,000. ABC designated the shares as held for trading. On Dec 31, 20X1 Z Corp's share had a fair value of P350,000 On Jan 12, 20X2,  the shares were sold at P7.10 per share. Transaction costs related to the sale were P6,000.  How much is the realized gain (loss) on sale?     0 (1,000) 5,000 (11,000)

Q: On January 1, year 1, DEF Company purchased 80% of the stock of UVW for P4,000,000 cash. Prior to…

A: GIVEN   On January 1, year 1, DEF Company purchased 80% of the stock of UVW for P4,000,000 cash.…

Q: 5. On June 1, 2020, Ping Corp. purchased 10,000 of Pong’s 50,000 outstanding shares at a price of…

A: solution given Date of purchase of share June 1 2020 Number of total share of pong 50000…

Q: An impairment test at June 30, 20x3 concluded that consolidat goodwill was impaired by P80,000.

A:

Q: ournal Entries: 1.) Purchased 9600 shares of Tammy's Company for $10 per share, plus $4800…

A: Given, No. of shares = 9,600 Shares  Cost per Share = $10.00 Commission = $4,800

Q: On January 1, year 1, ABC Company purchased 80% of the stock of XYZ for P4,000,000 cash. Prior to…

A: GIVEN   On January 1, year 1, ABC Company purchased 80% of the stock of XYZ for P4,000,000 cash.…

Q: (TCO A) On January 2, 20X1, Heinreich Co. paid $500,000 for 24% of the voting common stock of Jones…

A: 1) Heinreich Co paid $ 500000 Holding of 24% in Jones Corp. Fair value of assets = $ 1800000 Net…

Q: In 20X1, FYY Ltd. purchased 1,900 shares of Humor Inc. for $49,400 plus $1,900 in commission. The…

A:

Q: (30,000) (15 16. On Jan. 1, 20x1, Ala-ala Co. acquired in the voting shares of Spider C acquisition…

A: The question is multiple choice question.The company acquired 40% ownership interest  of another…

Q: 1,495,000 c. 1,391,000 d. 1,316,000 a. b. 1,420,000

A: Step 1 Investment in Associate refers to the investment in an entity in which the investor has…

Q: On June 30, 20X1, ABC Corp exchanged 6,000 shares of XYZ Company P10 par value ordinary shares for…

A: Lets understand the basics. When there is exchnage of non monetary asset on asset of another non…

Q: Mino Corporation had the following investment at FVTPL at the beginning of the current year:…

A: XYZ CORPORATION     Shares Cost Carrying Amount Beginning 10,000 P1,000,000 P1,200,000 Feb 28…

Q: 9. If ABC Co purchases the net assets of XYZ Co by issuing 50,000 shares of their P20 par value…

A:

Q: On January 1, 20x2, Pfieter Company purchased 80 percent of the outstanding shares of Sedrosky…

A: Consolidated financial statements are the financial statements of a group consisting of multiple…

Q: Compare process costing with job-order costing

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: On January 15 of the current year, Thomas Company purchased 2,800 shares of Dillon Company at a…

A: The income ( loss ) is the difference between the total sales price and the total cost of the…

Q: 38. On March 1, 2022, Dolor Company purchased 5,000 shares of Susan Incorporated paying P12 each…

A: As per IAS 39, Financial instrument recognition  and measurement,  Investment in equity shares can…

Q: Ablue Company had 50,000 shares of P100 par authorized. During 2004, first year of operations, the…

A: The contributed capital includes the total capital value from the issuance of common stock and…

Q: 13. The Resty Company issued 200,000 new P1 ordinary shares at a fair value of P1.80 each. Resty…

A: Solution:- Calculation of the  increase in equity in the statement of financial position of Resty…

Q: On May 20, Montero Co. paid $150,000 to acquire 30 shares (4%) of ORD Corp. as a long-term…

A: An acquisition is when a company purchases most of another company's shares.

Q: On May 12, Year 1, Chewco Co. purchased 2,000 shares of Jedi Inc. for $112 per share, including the…

A: Comprehensive income: The financial items which result in changes in the stockholders’ equity, other…

Q: The Resty Company issued 200,000 new P1 ordinary shares at a fair value of P1.80 each. Resty…

A:

Q: The Resty company issued 200,000 new P1 ordinary shares at a fair value of P1.80 each. Resty…

A: Total expense net of tax = ( professional fees + internal management time in managing the process) x…

Q: In 20X1, FYY Ltd. purchased 1,900 shares of Humor Inc. for $49,400 plus $1,900 in commission. The…

A: The objective of the question is to prepare the journal entries for the transactions related to the…

Q: How much is the unrealized gain at Dec 31, 20X1?     1,000 15,000 50,000 65,000

A: The securities held for trading means those securities that are purchased by the company for a short…

Q: The Resty Company issued 200,000 new P1 ordinary shares at a fair value of P1.80 each. Resty…

A: Solution:- Calculation the increase in equity in the statement of financial position of Resty as…

Q: What amount of gain (loss) should ABC recognize on Dec 31, 20x1 and Jan 10, 20X2 respectively?…

A: FVOCI stands for Fair Value Through Other Comprehensive Income. It is the method to recognize the…

Q: ABC Corp acquired 30,000 shares of XYZ Co. The shares were actively traded in the three markets. The…

A: As per IFRS 13, In the case of more than one principal market for a particular item, the most…

Q: On January 1, year 1, ABC Company purchased 80% of the stock of XYZ for P4,000,000 cash. Prior to…

A: Stockholders are the Persons of entities whom the company issues its ownership rights in the form of…

Q: ABC Corp acquired 30,000 shares of XYZ Co. The shares were actively traded in the three markets. The…

A: Shares which are actively traded in market is to be recognised as investment at fair value. Fair…

Q: Fairbanks Corporation purchased 400 ordinary shares of Sherman Inc. as a tradim E13,200. During the…

A: Ans. Total revenue to be recognised is the total dividend received and the appreciation in the share…

Q: On January 1, 202X, Dianne Corporation acquired the net assets of Cyril Corporation by issuing e…

A: Dianne Corporation pays Cyril Corporation in shares and cash as purchase consideration for Cyril…

Q: Parks, Incorporated paid $10 per share for 80,000 of the 100,000 shares of KO, Incorporated, when…

A: When the purchase price of an acquisition is less than the fair value of the net assets acquired,…

Q: How much is the gain (loss) on sale at Jan 20X2?     15,000 11,500 5,000 1,500

A:

Q: At what amount should the investment be shown on Inn Corporation had 30,000 ordinary shares of NPA…

A: Bonus issue = 30000 shares x 20%= 6000 shares Total number of shares after bonus issue  (30000 +…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.